Actually, it is censored a bit, but it’s so subtle that no one seems to care. Right after shower scene, when Asuka is dressing up, that railing with a towel hanging on is placed just high enough to cover her (presumably panty-less) ass.
Other than that, Senran Kagura doesn’t seem to be censored at all, they avoid that as much as possible.
I hope this won’t change later on.